Regulation

The citizens of India might get an option to sign documents digitally through crypto tokens. Such feature is envisaged in the project of national web browser, cherished by the Ministry of Electronics & Information Technology (MeitY). On August 9 MeitY announced the launch of Indian web browser Development Challenge. The Ministry hopes to “inspire and

The United States Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal to Judge Analisa Torres’ July 13th summary judgment in its ongoing legal battle against Ripple Labs. In an Aug. 9 letter to Judge Torres, the SEC explained it believed her decision warrants a fresh look by an appellate

PayPal’s launch of a U.S. dollar-pegged stablecoin has prompted questions from Democratic members of the House Financial Services Committee, while Republican leadership said the coin showed the potential of regulatory clarity. In an Aug. 9 statement, committee ranking member Maxine Waters said she was “deeply concerned” about the PayPal USD (PYUSD) stablecoin without a regulatory

Binance continues to experience an increase in regulatory heat as the Federal Government of Nigeria is being urged by the Association of Bureaux De Change Operators of Nigeria (ABCON) to prohibit the activities of Binance within the nation. ABCON is a self-regulatory body and an umbrella for all the Central Bank-licensed Bureaux de Change (BDC).

The United States Federal Reserve is broadening the scope of its supervision program which oversees U.S. banks that engage with the cryptocurrency and blockchain industry. An Aug. 8 announcement by the Federal Reserve Board established the Novel Activities Supervision Program which aims to limit certain crypto-related activities and facilitate a more fair playing field for

The United States Attorneys’ offices has announced another superseding indictment against former FTX CEO Sam Bankman-Fried (SBF) which will include considering an allegedly illegal campaign finance scheme. In an Aug. 8 letter to Judge Lewis Kaplan, U.S. Attorney Damian Williams said the Department of Justice plans to pursue seven charges against SBF in its trial

The Brazilian central bank digital currency (CBDC), previously commonly referred to as the “digital real,” has been given its official brand name: the Drex.  On Aug. 7, the Central Bank of Brazil issued a press release revealing and explaining the new brand for its CBDC. Developed by the central bank, the brand “Drex” is an

Crypto exchange Blockchain.com has been granted a payments license from Singapore’s central bank — the Monetary Authority of Singapore (MAS). Blockchain.com announced on Aug. 7 it received its major payment institution (MPI) from MAS on Aug. 1 allowing it to provide what the regulator calls digital payment token services to institutional and accredited investors. The exchange’s

The Securities and Futures Commission (SFC) of Hong Kong issued a notice about unlicensed virtual asset trading platforms “engaging in improper practices”, warning of potential criminal charges. In an Aug. 7 notice, the SFC said certain trading firms had falsely claimed to have submitted applications for licenses in Hong Kong. The securities regulator said should

The United States Securities and Exchange Commission has obtained a temporary asset freeze against Utah-based crypto company Digital Licensing Inc, accusing the firm of perpetrating a $50 million fraudulent crypto scheme. On Aug. 3 the SEC announced it had obtained a temporary asset freeze, restraining order, and other emergency relief against Digital Licensing Inc., which

Massachusetts securities regulators have started a new investigation into the use of artificial intelligence (AI) in the securities industry, after becoming increasingly concerned about the implications. On Aug. 3, Massachusetts Secretary of the Commonwealth William Galvin officially announced an investigation into the ways in which firms may be using AI in their interactions with Massachusetts

Top Stories This Week The decentralized finance (DeFi) ecosystem experienced a challenging week after a seismic security incident led to over $61 million being stolen from Curve Finance’s pools, leaving several protocols facing broader contagion risks. This attack exposed vulnerabilities across DeFi projects and sparked efforts to recover stolen funds over the past few days,

The Sultanate of Oman is inching closer to launching its own virtual asset regulations, with its financial markets regulator seeking public comments on its proposed regulatory framework governing digital assets, such as cryptocurrencies. The Capital Market Authority of Oman is currently in the process of drafting a comprehensive regime for the virtual asset sector, which

The Chamber of Digital Commerce (CDC), an American advocacy organization, on August 1, unveiled a comprehensive “impact and analysis” report on the SEC’s lawsuit against Ripple. The report scrutinizes the case’s verdict, highlighting its profound implications for the crypto industry’s future. According to the CDC’s evaluation, Judge Analisa Torres’s ruling sets a vital precedent in

Three members of the United States Senate have reportedly sent a letter to the White House and Treasury Department in an effort to crack down on North Korea using cryptocurrency to fund its nuclear program and evade sanctions. According to an Aug. 4 report in The Wall Street Journal, Sens. Elizabeth Warren, Tim Kaine and

United States-based cryptocurrency exchange Coinbase has filed a motion to dismiss a lawsuit brought by the Securities and Exchange Commission (SEC) in June. In an Aug. 4 filing with U.S. District Court for the Southern District of New York, lawyers for Coinbase filed a motion for judgment, claiming the SEC had “violated due process, abused